Sec. 10.5. (a) All assets in the fund are exempt from levy, sale, garnishment, attachment, or other legal process. However, a participant‘s contributions or benefits, or both, may be transferred to reimburse the participant’s employer for loss resulting from the participant’s criminal taking of the employer’s property by the board if the board receives adequate proof of the loss. The loss resulting from the participant’s criminal taking of the participant’s employer’s property must be proven by an order for restitution in favor of the employer issued by the sentencing court following a felony or misdemeanor conviction.

     (b) The board may withhold payment of a participant’s contributions and interest if the employer of the participant notifies the board that felony or misdemeanor charges accusing the participant of the criminal taking of the employer’s property have been filed.

Terms Used In Indiana Code 33-39-7-10.5

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • board: refers to the board of trustees of the Indiana public retirement system established by IC 5-10. See Indiana Code 33-39-7-3
  • Conviction: A judgement of guilt against a criminal defendant.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • fund: refers to the prosecuting attorneys retirement fund established by this chapter. See Indiana Code 33-39-7-5
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • participant: means a person serving in a position described in section 8 of this chapter who is participating in the fund. See Indiana Code 33-39-7-6
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
     (c) The board may withhold payment of a participant’s contributions and interest under subsection (b) until the final resolution of the criminal charges.

     (d) Subsections (b) and (c) do not apply to the:

(1) retirement benefit of a retired participant; or

(2) disability benefit of a participant who is permanently disabled.

As added by P.L.27-2019, SEC.23. Amended by P.L.203-2019, SEC.5.